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AIDS Healthcare Foundation Acquires Morrison Hotel In Downtown Los Angeles For $12.4M

Property Image
SOLD
$12,400,000
MW
GK

California

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Hotel
Sold 12/11/2023
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Property Image
SOLD

AIDS Healthcare Foundation Acquires Morrison Hotel In Downtown Los Angeles For $12.4M

1246 South Hope Street

See Similar Deals
Hotel
Sold 12/11/2023
MW
GK
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Hotel
Transaction Type:Sale

Relevant Group has sold the Morrison Hotel in Downtown Los Angeles to AIDS Healthcare Foundation for $12.4 million. The sale resolves a loan default of $13.2 million and includes a "development cooperation agreement" between Relevant and AHF. The hotel is located at 1246 South Hope Street and is known as the Morrison Hotel.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $12,400,000
  • Address: 1246 South Hope Street - Morrison Hotel
  • Market: Los Angeles

Michael Weinstein, the representative of AIDS Healthcare Foundation, acted as the buyer in the transaction. Grant King, representing Relevant Group, served as the seller. The sale of the Morrison Hotel marks a significant deal between the two parties.

Players

MW
Michael Weinstein
3 deals$30.4M volume
BUYER
GK
Grant King
3 deals$106.7M volume
SELLER

Details

SOLD
IMAGE: Michael Weinstein & Grant King DATE: 12/11/2023 ADDRESS: 1246 South Hope Street - Morrison Hotel MARKET: Los Angeles ASSET TYPE: Hotel BUYER: AIDS Healthcare Foundation (@AIDSHealthcare) - Michael Weinstein SELLER: Relevant Group (@Relevant_Group) - Grant King SALE PRICE: $12,400,000 KEYS: 111 ~ PPK: $111,712 NOTE: Relevant Group has sold the Morrison Hotel in Downtown Los Angeles to AIDS Healthcare Foundation for $12.4 million, resolving a loan default of $13.2 million. The sale includes a "development cooperation agreement" for a joint project between Relevant and AHF.

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Debt Service Coverage Ratio (DSCR)

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